GBP/USD Weekly Forecast: Range bound with an eye on the BOE
Weak July GDP data restrains sterling and rate hike expectations. GBP/USD finishes the week on par and at the middle of three-month range. Sterling’s recovery on Thursday and Friday ended, temporarily, the threat of the GBP/USD breaking below 1.3765 support and entering the lowest part of its seven-month range. Read more...
GBP/USD fails gains near 1.3900, erases weekly gains
US dollar gains momentum near the end of the week on higher US yields. GBP/USD unable to break key resistance again; upside remains limited. The GBP/USD peaked on Friday at 1.3887, the highest level in a week, and then lost momentum. Near the end of the week, it is trading at 1.3840, around the same level it had a week ago, after erasing daily gains. Read more...
|Today last price||1.384|
|Today Daily Change||0.0004|
|Today Daily Change %||0.03|
|Today daily open||1.3836|
|Previous Daily High||1.3863|
|Previous Daily Low||1.3754|
|Previous Weekly High||1.3892|
|Previous Weekly Low||1.3731|
|Previous Monthly High||1.3958|
|Previous Monthly Low||1.3602|
|Daily Fibonacci 38.2%||1.3821|
|Daily Fibonacci 61.8%||1.3795|
|Daily Pivot Point S1||1.3772|
|Daily Pivot Point S2||1.3709|
|Daily Pivot Point S3||1.3663|
|Daily Pivot Point R1||1.3881|
|Daily Pivot Point R2||1.3926|
|Daily Pivot Point R3||1.399|
GBP/USD Forecast: Consolidating gains ahead of 1.3900
The GBP/USD pair retains its latest gains and trades near a weekly high of 1.3884 set on Friday. The American dollar remains pressured, despite US government bond yields have recovered from Thursday’s plunge, with that on the 10-year Treasury note currently around 1.32%. The better performance of equities provides additional support to the pair. Read more...
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